In the world of coin collecting, there are some rare gems that become priceless not just because of their age or metal, but because of their historical heritage, rarity of manufacture and limited availability. The 1822 “Half Eagle” is a wonderful example of just that. It is a gold coin with a denomination of just $5, but its estimated auction price is being set at more than $5 million. Imagine a coin that was once made for transactions for just $5; today its value is being estimated to be one million times more than its real value. This shows its historical and collectible importance.
Design and features of this coin
The first and most special thing about the 1822 Half Eagle coin is its design. The image of a ‘capped bust’ is engraved on the front of the coin, which was common on the US currency of that period. This image is of a woman who was considered a symbol of freedom, dignity and identity of the nation. On the reverse side of the coin, an eagle is engraved, which is a strong symbol of America’s national identity. The presence of this eagle in a posture with its wings spread, arrows and olive branches in its pointed claws—all these together show a wonderful combination of power and peace.
This design is a great example of the craftsmanship of the time when every coin was printed by hand, and there was a slight variation in each unit, which makes them even more special. Today this coin is not only collectible but also a witness to the art and history of American currency making. Its originality and rarity are of such an extent that only three certified 1822 half eagles exist in the world.
Only three are left—and only one in private hands
According to the report of Stack’s Bowers Galleries, two of these three coins are stored in the National Numismatic Collection of the Smithsonian Institution—that is, they are public property and can be seen only in museums. But the third and final 1822 Half Eagle is the only one owned by a private collector, and this coin is now going to be auctioned. This auction is a historic occasion because the transfer of such a rare coin into private hands is an extremely rare event.
This coin was part of the collection of a famous coin collector named D. Brent Pogue, who died in 2019. Brent Pogue bought this coin in 1982 when the collection of rare gold coins of Louis E. Eliasberg Sr. came to auction. Eliasberg’s collection was considered the most complete American coin collection in the world at that time, and the 1822 Half Eagle coming out of there was a historic event.
Historical perspective of the auction
The auction of the 1822 Half Eagle is also a history in itself. So far it has happened only twice that this coin has come to public auction. The first time was in 1906, when the H.P. Smith Collection was auctioned, and the second time was in 1982 during the Eliasberg Collection. That is, in the last hundred years it has appeared in the open market only twice.
Stack’s Bowers Galleries and Sotheby’s together presented it for sale again in 2016, but at that time it could not be sold at its reserve price. The bid reached $6.4 million, but it was less than the minimum price set, so the sale could not happen. Now this rare coin is being presented for auction again in March 2025 at Stack’s Bowers Galleries’ “Rarities Night” at the famous Bellagio Hotel and Casino in Las Vegas. The event will run from March 23 to 26, in which this special coin will be presented on the night of March 25.
Brent Pogue: The legacy of an obsessive collector
D. Brent Pogue was known as a distinguished and obsessive collector in the field of coin collection. He had collected the rarest American coins in his life and his collection became an inspiration for both collectors and historians. Pogue believed that every coin told a story—not just as a currency, but also as a reflection of the era, society and politics in which it was minted.
His attachment to the 1822 Half Eagle was similar. He saw it not just as a coin but as a historical treasure. Now that the coin is up for auction after his death, it is a memorable occasion not only for collectors but also for history buffs.
Future value and market potential
Even though the coin failed to sell even at the $6.4 million bid in 2016, experts believe its value could rise even higher this time around. The market for rare coins is constantly growing, and demand for such coins always remains high, especially when it is a one-off, privately owned piece. At stake in such auctions is not just money, but also pride and heritage.
At the same time, it is worth noting that items like the 1822 Half Eagle are not just investment instruments, but they become a testament to the collector’s identity, their heritage and their devotion to history. It is possible that this coin will sell for even more than its previous price this time and write a new chapter in history again.
Conclusion:
The 1822 Half Eagle is not just a $5 gold coin—it is a living symbol of American history, art and collectibles. Its rarity, design, ownership story and auction history make it one of the most valuable and sought-after coins of modern times. When it goes up for auction in March 2025, it will be a priceless opportunity—not to mention a rare one. Not just for the person who can afford it, but for anyone who wants a touch of history in the world of coin collecting.
FAQs
Q. What is the 1822 Half Eagle?
A. It’s a rare $5 gold coin minted in 1822, with only three known examples in existence.
Q. Why is the 1822 Half Eagle so valuable?
A. Its extreme rarity and historical significance make it worth over $5 million.
Q. Who previously owned the privately held 1822 Half Eagle?
A. It was part of the collection of renowned coin collector D. Brent Pogue.
Q. Where are the other two 1822 Half Eagles?
A. They are housed in the Smithsonian Institution’s National Numismatic Collection.
Q. When and where will the 1822 Half Eagle be auctioned?
A. It will be auctioned from March 23–26 during Stack’s Bowers Galleries’ Rarities Night at the Bellagio, Las Vegas.
